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RECORDING REQUESTED BY <br />AND WHEN RECORDED MAIL TO: <br />CITY OF REDWOOD CITY <br />1017 MIDDLEFIELD ROAD <br />BOX 391 <br />REDWOOD CITY, CALIFORNIA 94064 <br />ATTN: CITY CLERK <br />2018-048350 <br />9:23 am 06/21/16 AG Fee: NO FEE <br />Count of Pages 34 <br />Recorded in Official Records <br />County of San Mateo <br />Mark Church <br />II II Assessor -Count <br />srtClerk-Recorderl II <br />*$ R 0 0 0 2 5 7 2 4 3 1$ <br />(Space Above Provided For Recorder) Exempt from Recording Fees under Govt Code Section 27383 <br />AFFORDABLE HOUSING AGREEMENT 3 �/ <br />THIA AFFORDABLE HOUSING AGREEMENT ("Agreement") is made as of <br />�Tu 6 , 2018, by and between the CITY OF REDWOOD CITY (the "CITY") and <br />GS ILLER SUBSIDIARY, LLC, a Delaware limited liability company ("OWNER"), with <br />respect to certain real property consisting of approximately 1.64 acres of land located at <br />1409 EI Camino Real in the City of Redwood City, County of San Mateo, California, as <br />more fully described in Exhibit "A" attached hereto and incorporated herein by this <br />reference (the "Property"). <br />WHEREAS,, the City Council of the CITY has approved a Downtown Planned <br />Community Permit including two (2) guideline deviations (DPC2015-12), a Tentative Map <br />(TM2015-09), and an Affordable Housing Plan (the "Project Approvals") to construct an 8 - <br />story building with 350 apartment units (including 35 affordable units at the low income <br />level), approximately 2,900 sq. ft. of ground floor retail space, and three levels of <br />underground parking, located at 1409 EI Camino Real (the "Project"). <br />WHEREAS, under the terms and conditions of the Project Approvals, OWNER is <br />required to offer for rental 35 Affordable Units (defined below) as Low Income Rental Units <br />in accordance with OWNER's Affordable Housing Plan (the "AHP") approved and <br />accepted by the CITY as part of the Project Approvals. A copy of the AHP is attached <br />hereto as Exhibit "B" and incorporated herein by this reference. <br />WHEREAS, OWNER desires to enter into this Agreement in order to satisfy the <br />affordable housing requirements of the Project Approvals including Condition of Approval <br />No. 20.D and Chapter 18, Article XVII of the Redwood City Municipal Code (the Affordable <br />Housing Ordinance"), <br />WHEREAS, the CITY desires to enter into this Agreement in order to ensure that <br />the required number of Affordable Units will be made available to and occupied by <br />Qualified Lessees (defined below) in accordance with the terms and conditions of this <br />Agreement. <br />NOW, THEREFORE, for good and valuable consideration, OWNER and the CITY <br />agree as follows: <br />REV: 04-13-18 PR <br />ATTY/AGR.2018.081/Gre star Affordable erof15 <br />y g agreement - 1409 EI Camino <br />